Scam type
Forex Scams
Forex and CFD fraud is built around platforms that imitate real brokers — professional websites, charting tools, spreads, leverage settings, and an assigned account manager. Behind the interface, prices and positions are frequently controlled by the operator, so 'profits' and 'losses' can be manufactured at will.
If you have deposited money with a broker you now doubt, stop funding the account, keep every record, and speak to your bank and the police without delay. ChargeBack can then help you organise the evidence, map where your payments actually went, and identify which dispute or complaint channels may apply.
The pattern
How this scam typically works
The recruitment
Victims are drawn in through social media adverts, trading 'signal' groups, or calls from a friendly account manager. The broker's site looks credible, but the firm holds no licence from any recognised regulator, or borrows the name of a firm that does.
The demonstration
Early trades on the platform show quick gains, and a small withdrawal may even be paid out. The account manager presents this as proof of skill and encourages a much larger deposit to 'trade properly'.
The pressure
Deposits are pushed relentlessly: margin calls after sudden 'losses', exclusive bonus offers with hidden trading-volume conditions, or claims that one more payment will unlock a bigger opportunity. Some victims are talked into letting the manager trade the account directly.
The lock-out
When a withdrawal is requested, obstacles appear — unpaid 'taxes', bonus clauses, verification loops, or sudden account deficits. Eventually support stops replying, the account is frozen, or the website disappears and reopens under a new name.
Warning signs
- The broker does not appear on your national regulator's register, or its licence claims cannot be verified
- An account manager phones or messages repeatedly urging you to deposit more
- Bonuses or 'credit' are added to your account with conditions that block withdrawals
- Consistent winning trades while the manager guides you, then sharp losses when you ask for money back
- Deposits requested by crypto transfer, to personal accounts, or to companies with different names each time
- The firm's address is vague, offshore, or changes between the website, emails, and payment references
What to do right now
- Stop all further deposits, including any 'tax', 'commission', or 'release fee' — genuine brokers deduct costs from the account, they do not demand fresh payments to release your own funds.
- Contact your bank or card issuer straight away, explain that you believe you have been defrauded, and ask what dispute or recall options apply to each payment.
- Report the matter to your local police or national fraud-reporting service and keep the reference number.
- Check your national regulator's register and warning list for the broker's name and website, and take screenshots of what you find.
- Preserve your trading account as it stands — screenshots of balances, positions, and withdrawal requests — and be wary of anyone who contacts you unprompted offering to recover your losses.
Evidence worth collecting
- Bank, card, and crypto records showing every deposit to the broker
- The broker's website addresses, company names, and any licence numbers it claimed
- Screenshots of the trading platform: balances, open positions, and trade history
- Withdrawal requests and every response, refusal, or fee demand you received
- All calls, emails, and chat messages with the account manager
- Account-opening documents, bonus terms, and any contracts you signed
- Police, bank, or regulator reference numbers you already have
How ChargeBack can help
- Reconstruct a clear timeline of contacts, deposits, and withdrawal refusals
- Organise your statements, screenshots, and conversations into a coherent case file
- Analyse where your payments went, including on-chain tracing when deposits were made in crypto
- Check the broker's regulatory claims against public registers and document the findings
- Prepare a written summary you can present to your bank, the police, or a lawyer
We assess and document; banks, payment providers, and authorities decide outcomes. No recovery can be guaranteed by anyone.
Possible channels
Dispute and reporting channels that may apply
Which channels are realistic depends on how you paid, where the money went, and how quickly the incident was reported.
Card chargeback
If deposits were made by credit or debit card, your issuer may be able to raise a dispute under card-scheme rules — for example where a promised service was not provided. Time limits apply, so contact your issuer promptly.
Bank transfer recall
For bank transfers, your bank can ask the receiving bank to return the funds. The chance of a recall depends heavily on how quickly the money was moved on, which is why early reporting matters.
Police and fraud-reporting services
A police or national fraud-office report creates an official record of the broker, its accounts, and its methods, and can connect your case to wider investigations into the same operation.
Financial regulator or ombudsman
If a regulated firm was genuinely involved — the broker itself, or a payment provider that handled your money — a formal complaint and, later, an ombudsman referral may be open to you. Regulators also accept reports about unlicensed firms for their public warning lists.
FAQ
Common questions
Start here
Start with a free, confidential consultation.
Tell us what happened. We will review the information and explain whether our services are relevant — and, if you choose to proceed, exactly what any investigation would involve and cost.